India
Interview with BIS General Manager Malcolm Knight
In an interview conducted on 25 September, Bank for International Settlements general manager Malcolm Knight said "It would be likely that Basel II would assign India a sovereign risk weight of 50 percent instead of the 100 percent it receives under the…
Vepa Kamesam's term at RBI extended by 3 months
Reserve Bank of India deputy governor Vepa Kamesam has been given a second three-month extension to his contract, according to Busines Standard. With this, Kamesam has become the first deputy governor to hold the position beyond the age of 62.
Reserve Bank of India - Annual Report 2002 - 2003
The Reserve Bank of India has published its Annual Report for the year ended 2002 -2003. The Annual Report released 27 August 2003 said cautious optimism characterised the stance of macroeconomic policies during 2002-03, notwithstanding the continuing…
Jalan too
Bimal Jalan, having ceded power at the central bank to the capable hands of YV Reddy, will slip into what will surely be no less lively an occupation. He has now been nominated to the upper house of Parliament (contrasting with Gerashchenko who is to…
RBI to kick off Basel transition with 8 banks
As part of a move towards the new New Basel Capital Accord the Reserve Bank of India has chosen eight banks - public, private and foreign - as part of the RBI's pilot run on implementing the risk-based supervision for banks, according to Business…
Reddy to take over as RBI chief on Saturday
YV Reddy will take up his post as governor of the Reserve bank of India for a five-year term beginning on September 6th, the RBI said Wednesday a report from Reuters said.
Jalan nominated to India's Parliament
A statement from the Indian government released on Thursday 28 August said Reserve Bank of India Governor Bimal Jalan had been formally nominated to the upper house of Parliament, according to a report by Reuters.
Indian economy on the mend, says Jalan
Outgoing governor of India's central bank, Bimal Jalan, believes that strong economic fundamentals will clear the way for a higher growth rate and ease the way to full convertibility of the rupee, according to Asia Pulse.
RBI cautious over foreign borrowing
The Reserve Bank of India sounded a note of caution over unlimited access to short-term external commercial borrowings by businesses to fund working capital and other domestic requirements, according to a report by rediff.com.
Jalan on exchange rate policy
In a speech given at the 14th National Assembly of Forex Association, the governor of the Reserve Bank of India, Dr Bimal Jalan, mused on the central bank's exchange rate policy. The present system is by no means an ideal one. However, like the old…
India may ease some rules on rupee trading
Reserve Bank of India governor Bimal Jalan, speaking at the Forex Association of India. said that the RBA could loosen rules on currency trading, according to Bloomberg. He also said that "Convertibility continues to be a desirable objective for all…
India's forex reserves soar to new record
The Reserve Bank of India confirmed that India's foreign exchange reserves exceeded US$84 billion in July posting a new record high, according to Asia Times. Analysts said the rise in India is mainly due to fresh inflows and revaluation of non-US…
RBI asks Indian banks to be ready with RTGS
A meeting held at the Reserve Bank of India urged banks to be ready for the introduction of India's Real Time Gross Settlement, which is expected to begin simulated tests before the year end, according to a report by The Hindu. Deputy governor Vepa…
YV Reddy appointed RBI Governor for five-year term
Official confirmation came on Friday 18 July that Dr Y. Venugopal Reddy will take over as governor of the Reserve Bank of India for a five-year term. Business Line reports that the present governor, Dr Bimal Jalan, is expected to move into politics.
India's E-payment volumes soar 34% in 2002-03
The volume of E-payments in India has increased by 34% in the financial year 2002-03, Business Standard reported. At a seminar on smart card technology and its applications, R Gandhi, chief general manager of the Reserve Bank of India, said, "During 2002…
Get ready for Reddy
The coast appears clear for Dr Yaga Venugopal Reddy, deputy governor of the Reserve Bank of India until last year, to assume his well-deserved place as governor. Current governor Bimal Jalan is set to abandon the central bank in August, well before the…
Y V Reddy set to become new RBI governor
YV Reddy will become the next governor of the Reserve Bank of India, succeeding Bimal Jalan. The decision was taken Tuesday at a meeting arranged by Prime Minister Atal Bihari Vajpayee, The Economic Times reported.
Reserve Bank of India boss may leave for politics
Reserve Bank of India governor Bimal Jalan is likely to leave his post in the next few weeks for a seat in parliament, Reuters reported a banking source as saying.
India joins IMF's pool of lenders
A statement from the Reserve Bank of India, reported by Associated Press, said that the IMF has selected India for the first time to become a member of its Financial Transaction Plan, which helps bail out countries facing currency crises or at risk of…
Shyamala Gopinath appointed RBI executive director
Shyamala Gopinath has been appointed as an executive director of the Reserve Bank of India with responsibility for the departments of banking operations, supervision and financial institutions.
Reddy, Kelkar in race for RBI top job
The Economic Times reports that a two-horse race is developing for the top job at the Reserve Bank of India if current governor Bimal Jalan moves into politics.
Female deputy for the RBI
In a peculiar case of slighted honour, an executive director at the Reserve Bank of India resigned when the central bank followed in the Bank of England's footsteps by appointing its first female deputy governor last week.
Reddy for the top?
Incidentally, there is a rumour going around that the RBI governor himself, Bimal Jalan, is considering quitting in order to become a member of India's parliament (he first became governor in 1997 after a career largely in the finance ministry and was re…
RBI to get real time settlement system by year-end
Business Line reports that Vepa Kamesam, Deputy Governor of the Reserve Bank of India has said India's much awaited 'real time gross settlement system' will become operational before the end of the year.